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Barry Callebaut Group, the world leading cocoa processor and
producer of industrial chocolate, has closed the purchase of the
assets of Van Leer Chocolate Corporation, a US manufacturer of high
quality chocolate products.

Zürich/Switzerland and Jersey City/USA, July 16,1998. Barry
Callebaut AG, Zürich/Switzerland, announced today the closing of
its purchase of the assets of Van Leer Chocolate Corporation,
Jersey City/New Jersey/USA. Barry Callebaut is the world leading
producer of industrial chocolate and processes more than 10% of the
global annual cocoa bean harvest.

The acquisition of the assets of Van Leer was made through Barry
Callebaut USA Inc. established at St. Albans, Vermont. It is
expected that Van Leer´s activities will be merged with those of
Barry Callebaut USA Inc. Barry Callebaut is present on the US
market with its brand names Barry Callebaut for chocolate and
chocolate compounds and Bensdorp for cocoa powders.

Van Leer, a third generation company, with annual sales of USD
45 Mio. and 150 employees enjoys a high brand recognition in the
United States. The company produces premium chocolate, chocolate
coatings, cocoa powders, panned items and inclusions for the dairy
industry. Van Leer now joins the Group of companies controlled by
Barry Callebaut AG, a public company whose major shareholder is
Klaus J. Jacobs Holding AG, Zürich/Switzerland. Barry Callebaut
shares are traded on the Swiss Stock Exchange.

Barry Callebaut operates 17 plants in Africa, Europe, North
America and Asia Pacific, employs more than 3,000 people and
generates annual sales of around CHF 2 billion. Both companies
complement each other ideally, because of non-overlapping customer
bases, theirs quality product lines as well as their shared focus
on customer satisfaction. Barry Callebaut AG welcomes the Van
Leer's associates as new members of the Barry Callebaut family.